Microsoft Drops Amid Slowing Cloud Growth, Record Spending

Microsoft Corp.'s spending surged to a record high and cloud sales growth slowed, sending the shares down sharply amid investor concerns that it could take longer than expected for the company's AI investments to pay off.Capital expenditures for the fiscal second quarter hit $37.5 billion, up 66% from a year earlier and exceeding analyst estimates for $36.2 billion.The Azure cloud-computing unit posted a 38% revenue gain during the quarter when adjusting for currency fluctuations, just meeting analysts' pro ...